Amgen 3Q profit jumps 24 percent on lower costs

Biotechnology company Amgen Inc. said Wednesday lower costs in its research and sales units pushed up third-quarter profit 24 percent, despite a continued downturn in anemia drug sales.

Profit rose to $1.39 billion, or $1.36 per share, from $1.12 billion, or $1.05 per share, a year prior. Revenue fell 2 percent to $3.8 billion as sales of the anemia drug Aranesp continued slipping.

Excluding charges, the company says profit rose to $1.49 per share. Analysts surveyed by Thomson Reuters, on average, forecast $1.27 in profit on $3.79 billion in revenue.